George Lucas can learn a thing or too about film restoration from Celestial who is doing over 700 Shaw films:
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There are cerrain movies that are still not right. For instance Drunken master II -- even the Taiwanese DVD, is not correct. The aspect ratio is wrrong, but it IS uncut. For the proper asspect ratio, you once again have to go to the LD. Oupon a Time in China and America I believe was releaed also in the wrong aspect ratio.
It's a hard battle when the Asian studios are almost as bad. The deluxe R3 Bruce Lee Boxset has a re-dubbed Big Boss, with added Kyaas and Pink Floyd incidental music that were not in the older releases. The Game of Death 2 DVD is English only, odd considering I still have the original Chinese Tower of Death with Cantonese audio. My older copy of Fist of Fury has an extensice audio commentary by Bey Logan on it which is absent in the newly remastered one. I for one am not too fond of the addition of a DTS track to something as old as these.
The Killer and Hard Boiled are still out of print in the US and both of those had great audio commentaries by John Woo. Both those movies are still in print in asia in anamorphic prints which were not the case here in the US. They were letterboxed.
So yeah, I think there are indeed many projects that can be undertaken.